Hi Crypto Network,
It has been a positive 24 hours of trade for the crypto market and small gains are being seen across the board. This has taken the value of the entire market up by almost 0.7% to $218.7 billion according to Coin Market Cap.
Prices have risen despite potentially negative news out of China revealed that search engine giant Baidu has followed in the footsteps of WeChat owner Tencent and e-commerce giant Alibaba by imposing anti-cryptocurrency measures.
https://www.bloomberg.com/news/videos/2018-08-15/where-the-crypto-market-is-headed-from-here-video
Today’s article, however, is going to be focused on the Platinum approach to building a Crypto Portfolio. Many of the questions and support we get asked to provide our clients surrounds the building and maintaining a profitable Crypto Portfolio. So even if you’re already holding some cryptocurrencies, or you’re looking to get started, The Platinum Crypto Team can help.
HOW TO BUILD A CRYPTOCURRENCY TRADING PORTFOLIO
Building a trading portfolio and diversifying crypto investments is as important as breathing for a crypto trader. Many people out there just thrash the idea of cryptocurrency investment by calling it ‘the bubble of the hour’. Whether it’s just a bubble or the future of money, only time will tell. For the time being, it can be seen as an investment or trading option with the potential to make some substantial gains. So if you dream of an early retirement or just a secondary income, then cryptocurrency trading is surely worth trying your hand at.
If you are new to investing in general or are just new to the crypto markets, the extreme market volatility can be incredibly emotional, even for someone who has been in the market for a while. If you are new to the markets I would definitely suggest working with either a mentor or a more experienced trader, just so you have the kind of support necessary to power through to success.
GOOD NEWS – THE MARKET SITUATION
2018 is a bear market for cryptocurrencies. Everything is on sale, you can pick up some of the top coins in the industry at very attractive prices, so building your portfolio now is a great time.
Knowing what to buy and when to buy is a crucial skill when getting started, if you want to fast track this process speak with one of our traders today and find out which coins we are looking at this week.
Understanding the key areas of the market, the different types of coins, and the value they bring are key factors to any trader’s success, check out our previous articles on the energy sector, gaming sector, and privacy coins to get you started.
WHAT IS THE NEED TO BUILD A CRYPTOCURRENCY PORTFOLIO?
There is a very old saying that a wise trader never puts all his eggs in the same basket. He calculates his risk, estimates the expected profits, and then makes investments in various places to keep his money safe and multiplying at a pace.
It’s same in the Crypto World. Investing all your capital on one kind of coin and keeping all the expectations from it is risky. It will be better if an investor diversifies his or her investment, and invests in a variety of coins. Even if there is a dip in one coin, some others will definitely witness hikes and fetch you profit. Below we show an example of a coin losing value, while another gains value:
11% Rise in Bitcoin
15% Fall in Litecoin
Cryptocurrency trading is the game of patience and discipline. A dynamic trader/investor who is not driven emotionally and ready to anticipate and accept changes will be successful. High emotional quotient while trading, and attachment with a single or two coins is bad, researching and learning about other investment options is good.
BUILDING A CRYPTOCURRENCY PORTFOLIO!
The first and foremost rule of thumb to be followed while building a portfolio is that you need to do extensive research about the various coins in which you can invest.
Each portfolio will differ according to the level of risk appetite, gone are the days of just holding Bitcoin and Ethereum and seeing your % gains each day. It is important to hold a strong % of your portfolio is these coins, but nothing like it was 18 months ago. With the technology advancing in every direction, the argument for just holding large qualities of these is decreasing by the day.
Investing in good Altcoins is the best way to boost up your profits in the crypto market. Most of the Altcoins are available at very cheap prices and it is easier to mine them than mining Bitcoin.
WE CAN SUB-DIVIDE THIS CATEGORY INTO MANY DIFFERENT PARTS SUCH AS:
Large Cap And High Volume – This category includes the top 25 Cryptocurrencies such as Neo, Cardano, BNB and many more coins which have both a large market cap and high trading volume.
Mid Cap And Moderate Volume – This category includes coins which have a medium market cap and moderate volume and are in the list of top 100 Cryptocurrencies in the world. They are a little bit risky to trade but are highly rewarding at the same time.
Initial Coin Offering (ICO) – This category is a little bit different from other options in the market as this option is where you can invest very early in a project to reap maximum returns. Navigating this market is very different from trading and investing in normal cryptos through exchanges.
IN HOW MUCH TIME CAN A CRYPTOCURRENCY TRADING PORTFOLIO BE BUILT?
There is no fixed time or method to building a trading portfolio for cryptocurrencies. All you need to be is vigilant and observe the market constantly. Buying coins low and selling them high can eventually build a diversified yet strong cryptocurrency portfolio for a trader.
If you’re looking to be guided and supported while building a portfolio, the Platinum Crypto Team is here to help. We will not only walk you through how to build your portfolio but provide exactly which coins we are adding each week to our own.
LEARN HOW AND WHEN TO TAKE PROFITS 1-TO-1 WITH A MASTER CRYPTO TRADER - BOOK A LIVE SESSION TODAY
If you’ve booked your session above, we look forward to speaking to you soon!
Hopefully, you have enjoyed today’s article. Thanks for reading!
Have a fantastic day!
Richard Baker Live from the Platinum Crypto Trading Floor.